Stamp Duty & LBT Reduced in Maharashtra

The Maharashtra Government has reduced the Stamp Duty and waived off the 1% LBT on property registration to boost the transactions in the real estate sector. As per the latest information and news,

For areas under Mumbai and Mumbai Suburban – from September to December 2020, 3% Stamp Duty is waived off for the properties located in Corporation as well as Rural Areas. From January 2021 to 31st March 2021 it is waived off by 2% for Corporation and Rural Areas.

New Stamp Duty Rates after Exemption –

Till 31st December 2020 –

LBT – 0%

Corporation Areas – 2%

Rural Areas – 1%

From Jan to 31st March 2021-

LBT – 0.5%

Corporation Areas – 3%

Rural Areas – 2%

Except for Mumbai and Mumbai Suburban areas, for the rest of Maharashtra – from September to December 2020, 2% Stamp Duty is waived off for the properties located in Corporation as well as Rural Areas. From January 2021 to 31st March 2021 it is waived off by 1.5% for Corporation and Rural Areas.

New Stamp Duty Rates after Exemption –

Till 31st December 2020 –

LBT – 0%

Corporation Areas – 3%

Rural Areas – 2%

From Jan to 31st March 2021-

LBT – 0.5%

Corporation Areas – 3.5%

Rural Areas – 2.5%

1% of Registration Fees (max up to Rs. 30,000/-) is retained as it was.

Notification for Stamp Duty Waiver – http://igrmaharashtra.gov.in/SB_PUBLICATION/DATA/Notification/Reduces%20the%20Stamp%20Duty%20dt.29.08.2020.pdf
Notification for LBT Waiver – http://igrmaharashtra.gov.in/SB_PUBLICATION/DATA/Notification/202008281519229920.pdf

I will update the article as I get new updates on the news.